House prices at record high

The price of a typical home in the UK rose by 1% between March and April, according to the latest figures from the Nationwide House Price Index, this is the largest monthly rise since June 2014.

UK  house price growth rose an annual rate of 5.2 per cent in April, a small rise from the fgure of 5.2% in March . This put the average cost of a house in the UK at £193,048, that is the  highest since records began.

Nationwide’s chief economist Robert Gardner is reported as saying, “The pick up in growth price has occurred even though the pace of activity in the housing market has remained fairly subdued in recent months. Indeed, the number of mortgage approvals is still well below its long run average and 20% below the levels recorded in early 2014.

The strength of the economy and relatively subdued pace of activity in the housing market remains something of anomoly.It is possible that heightened uncertainty ahead of the election is weighing on activity, though there is no compelling evidence from previous UK elections to suggest a strong impact.

Healthy labour market conditions and continued low mortgage rates should help to underpin housing demand in the quarters ahead”

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Home and Living

5 Gas Safety Tips to Keep You Safe at Home

Houses with safety hazards are not desirable, since they endanger the lives of their occupants. The value of your home diminishes if you’re your house and property are damaged, including gas appliances. Therefore, all owners, landlords, and tenants have a responsibility to have the appliances they own tested for functionality. Check all of your household…
Read More
do i need planning permission for a shed
Home and Living

What you need Planning Permission for in your Garden

Gardens, mostly those at the rear of property, offer us a great diversity of options outside just a lawn and patio area. From outside office space to swimming pools, gardens are a great space in which we can add great value to our lifestyles from leisure to work. Planning permission is the phrase used to…
Read More
Breaking News

BREAKING PROPERTY NEWS – 16/05/2022

Daily bite-sized proptech and property news in partnership with Proptech-X.   nurtur.group continues to strengthen its leadership team With my non-journalist hat on, and to ensure complete transparency, I also hold a position as a non-executive director at nurtur.group – AS Following the recent acquisition of BriefYourMarket, proptech supplier, nurtur.group has announced that Damon Bullimore…
Read More
Overseas Property

How to reside in Spain through an investment

Golden Visa residence in Spain is a residence visa for investors. It was created by Law 14/2013 on support for entrepreneurs and their internationalisation, and its purpose is to attract non-EU foreign investors to Spain. This visa offers legal residence in Spain for a period of 6 months to 2 years depending on the type…
Read More
burglar uk
Home and Living

What do Burglars look for in a House?

We are all aware, unfortunately so, that today we need to be very careful on what we leave on show that could tempt a burglar / thief. Home security has certainly improved over the years including methods of combating crime and deterring those tempted to break in and enter. Especially with the invention of the…
Read More
Breaking News

WEEKLY NEWS ROUNDUP – 13/05/2022

A roundup of the week’s top property and proptech news stories in partnership with Proptech-X   What next for Rightmove as CEO quits? PRESS RELEASE: 5 Million Private Renters Live in Unhealthy Homes Reveals Recent Research by Yuno What does The Queen’s Speech mean for property? What are the real Proptech trends? What next for Rightmove…
Read More